Market Research Report
Europe Electric Power Distribution Automation Systems Market Forecast 2022-2030
|Europe Electric Power Distribution Automation Systems Market Forecast 2022-2030|
Published: June 6, 2022
Content info: 157 Pages
Delivery time: 2-3 business days
The Europe electric power distribution automation systems market is set to grow with a CAGR of 5.90% during the forecasted period of 2022 to 2030. The market growth of the region is propelled by the increasing transmission of renewable energy, the surging number of policy reformations, and the aging infrastructure.
The Europe electric power distribution automation systems market growth evaluation ensues a detailed analysis of Germany, Italy, Spain, the United Kingdom, France, and Rest of Europe. The electricity sector in Italy is evolving on a rapid scale, given the effects of the profound energy transition. It is concentrated on the achievement of sustainability goals, in addition to enhancing system security. Some of the most substantial elements of the novel model entail the management and integration of energy efficiency, renewable energy, storage systems, and digitalization.
Moreover, the Italian government authorized the National Energy Strategy, thus laying out future policy goals for the electricity sector in 2017. The primary objective of the initiative is to make the national energy system more competitive, sustainable, and secure.
On the other hand, France possesses a very low-carbon electricity mix on account of the country's huge nuclear fleet. Furthermore, as a pioneer in establishing an ambitious energy transition, the country legislated the aim of net-zero emissions for the year 2050 in the 2019 Energy and Climate Act. Hence, these factors are expected to propel the market growth in Europe during the forecast years.
Some of the eminent companies operating in the market include: Honeywell International Inc, Siemens AG, etc.